Skip to comments.Just 157K New Payrolls Added In January, But HUGE Upward Revisions To December And November
Posted on 02/01/2013 3:15:39 PM PST by Texas Fossil
The jobs report is out for January, and on the headline it's a slight miss.
157K new jobs is below the consensus estimates of 165K.
The unemployment rate ticked up to 7.9%.
(Excerpt) Read more at businessinsider.com ...
There is NO WAY that the real unemployment number is 7.9%, it is more than double that number.
But as usual, the Dems take no credit for the trainwreck they have created. It is still the GOP's fault (/sarcasm / barf).
The U6 number is almost 15%. In addition, 169,000 people dropped off the employment rolls and the number of people actually working continues to decline.
I bet the huge increase in employment is because people are firing full time employees and hiring part time employees. If the laid off employees are lucky, they are now working two or three jobs to get up to a full work week. If they aren’t lucky, they are contributing to the increase in unemployment.
I agree. I’m one of those EVIL Employers who is going to give all the part-time/seasonal hours to the loyal crew already on board and do little hiring this spring season.
Sorry. It’s either that or I close the doors. And nobody wants that!
They count 1 part time job as employment. The percentage of US citizens in the labor force is at the lowest percentage since the 1930.
No POL is going to tell the truth or take the blame for this disaster.
Correct. And if you factor in both the Alternate U6 empoyment is over 22%.
According to the BLS Table A-8, that's part of it.
And that is IN SPITE of the billions the government is printing and pumping into the economy.
Things are getting better. I just had lunch the other day with a gent who was laid off five years ago and finally found full time work at less salary than he was making five years ago. /s
I would LOVE to do that. I’ve been out over five years.
It’s a Progressive Paradise.
As long as Baraq, Bernanke, and Lew can appease the masses via handouts from the trillion dollar deficits, life is good.
And then when the market pukes on US debt, life won’t be good.